Costco is an American-based wholesale company with a broad spectrum of merchandise. The company operates as a membership-only warehouse club with its retail outlets across the globe. Costco was founded by James Sinegal and Jeffery Brotman in 1983 in Seattle. It is headquartered in Issaquah, Washington from where it manages all its chief business operations.
Soon after the initiation of the company, Walmart founder Sam Walton wanted to merge Sam's Club with the Price Club; however, Costco got the deal and merged with the latter in 1993. The company was later called as PriceCostco soon after the merger of two companies. Although the merged PriceCostco made tremendous annual revenue than the individual parent companies, Price founder Sol left the company and established Price Enterprises as an independent unit in 1994.